Ans:
A home ultimately is worth what someone will pay for it. Everything
else is an estimated value. One way to secure an estimated value is
through an appraisal by a licensed appraiser. An appraisal is a certified
appraiser's estimate of the value of a home as of a specified date.
Appraisers consider such factors as square footage, age of the home,
construction quality, design, floor plan, lot size, topography, view,
landscaping, neighborhood, area employment, transportation, area shopping
facilities, schools, and data from the current home market in the
area.

Who
may do real estate appraisals for a fee in the State of Indiana?

Ans:
The only persons permitted to do real estate appraisals in Indiana
are persons who hold licenses issued to individuals after they have
qualified themselves through education, testing, and a minimum of
two years and over 2500 hours of training as specified by the State.